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The Single Premium Immediate Annuity If a 65-year old invest wants to purchase an annuity today for a $20,000 annuity income starting next year and

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The Single Premium Immediate Annuity If a 65-year old invest wants to purchase an annuity today for a $20,000 annuity income starting next year and he wants to make sure that the income lasts for 20 years. Assume the relevant interest rate is 3% -- What is the closest answer for the present value of the annuity? O 300.000 450,000 200,000 O 400,000

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